You’ve probably heard of the $20,000 tax write off announced in the Australian Federal Budget. What does it mean for you? If you’re a small business, you can write off purchases up to $20,000 each, multiple times in each financial year, up to June 30th, 2019.
So, now that it’s the middle of June, if you buy equipment before June 30th this year, you can claim it as a tax deduction against your next company tax return. And you can do it several times over, as long as each purchase is under $20,000.
So if you’re making a profit and paying tax, you’ll get back a good chunk of the money you spent, pretty quickly as a tax deduction.
To take advantage of this you’ll have to move fast though – it can take time to get equipment ordered and delivered, and there’s less than 2 weeks left.
Here’s a few ideas for worth while gear:
- For electricians – 3 phase power data loggers
- To save money on your power bill – Power-Mate appliance electricity meter
- To improve your desk ergonomics – WorkFit sit-stand workstation
- For IT or facility managers with a server room – Server Room temp monitoring systems
- If you have a fridge, cool room or cold transport – Temperature data loggers
- For engineers – General purpose data loggers like Datataker, Fourtec DaqLink
If you have any gear in mind, give us a call today on +61 2 9481 7420 and set the ball rolling, before it’s too late!
Disclaimer: We are not accountants or financial advisors, so please check with your accountant before making decisions based on this information.
